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Listed by:John L. Scott, Inc • Jonathan D. Bye
$2,250,000
Est. payment /mo
20 Beds
16 Baths
11,180 SqFt
New
201 N Commercial ST Bellingham, WA 98225
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Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 11,180 sqft
Price per Sqft $201
Subdivision Bellingham
MLS Listing ID 2553317
Style 56 - 10+ Units
Bedrooms 20
Year Built 1900
Annual Tax Amount $21,170
Lot Size 6,534 Sqft
Property Sub-Type Multi Family
Property Description
Welcome to the Avalon! An appealing multifamily investment opportunity located at 201 N Commercial Street in Bellingham, Washington. Originally built between 1900 and 1906, the property is a two-story, sixteen-unit apartment community located in downtown Bellingham. Built as ten large flats, the Bellingham Herald described the building as “the leading fashionable apartment house in the city and the most modern.” Tenants enjoy nine-foot ceilings throughout all units, with ample natural light provided by large windows in nearly every room. The original fir siding remains in excellent condition, contributing to the historic charm of the property. The property unit mix consists of two studios with approximately 400 square feet, eight one-bedrooms averaging approximately 600 square feet, and six two-bedrooms averaging approximately 930 square feet. All units retain their original trim, and many retain original fir flooring that's been repainted over time. Some units have been upgraded with baseboard heat, and all units have radiator heat served by a steam boiler in the basement. There is no known knob-and-tube wiring, and Square D electrical panels supply electricity to the units. Supply lines have been replaced with pex plumbing in nearly all units. The Avalon offers excellent price-per-pound metrics of $140,625 per unit and $201 per foot, not including the large basement. The Avalon provides an excellent, risk-adjusted income stream with room for growth in the long term.
Location
State WA
County Whatcom
Area 860 - Bellingham
Interior
Flooring Laminate, Softwood, Vinyl
Fireplace false
Exterior
Exterior Feature Wood, Wood Products
View Y/N No
Roof Type Torch Down
Building
Lot Description Alley, Corner Lot, Curbs, Paved, Sidewalk
Sewer Sewer Connected
Water Public
New Construction No
Schools
School District Bellingham
Others
Senior Community No
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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